Hamburg's Novocarbo start-up raises EUR 25 million

22 March 2024
CDR parks to save 1 million tonnes of CO2 by 2030

The Novocarbo start-up has raised EUR 25 million in growth capital to set up net-zero infrastructure all over Europe, a press release said Thursday (March 14, 2024). To this end, it has joined forces with French investor Swen Capital Partner. The aim is to launch Carbon Removal Parks (CDR) for decarbonising the economy. Charlotte Virally, Investment Director of SWEN Capital partners, said: Novocarbo develops, owns and operates infrastructure that generate green energy whilst capturing COthrough biochar production. This perfectly fits our strategy dedicated to decarbonizing industries with hard-to-abate emissions."


200 new CDR parks by 2033

Novocarbo plans to build over 200 parks by 2033 to boost decarbonisation and green heat generation. The aim is to save 1 million tonnes of CO2 by 2030. Caspar von Ziegner, CEO of Novocarbo, noted: "Our only chance of limiting global warming to 1.5 degrees is by unlocking the full potential of net-zero technologies like biochar carbon removal. We’re happy to have found a strong partner in SWEN Capital Partners.” The technology, known as Biochar Carbon Removal (BCR) produces climate-neutral heat for decarbonising the urban or corporate energy supply. 

Novocarbo to expand across Europe

Founded in 2017, Novocarbo has opened three CDRs in Germany including one in the state of Mecklenburg-West Pomerania. The start-up now employs 35 staff in Hamburg. Novocarbo’s network for biochar is among the largest in Europe making it a pioneer of carbon projects and carbon removal. Novocarbo counts corporates such as Bayer and Swiss Re among its customers.

Sources and further information

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